Manmohan Singh: Time to Revive the once Rosy Economy of India

Indian PM Manmohan Singh called on his officials to decide on measures that would help revive India’s economic growth.

India’s economic pace is at its lowest pace, expanding at an annual rate of 5.3% in the first quarter. Rupee has seen one of the biggest declines among Asian currencies as a result of which investor sentiment is down and capital flows are drying up.

“The growth rate has taken a dip; the industrial performance is not satisfactory; things are not rosy on the investment front; inflation continues to be a problem,” Singh said in remarks released by his office.

PM Singh took over the financial portfolio after Pranab Mukherjee resigned in order to run for presidency.